Effective Loan Counseling: Chapter 2
Effective Counseling Series
Betsy Mayotte, President | The Institute of Student Loan Advisors (TISLA)
Chapter 2: Providing the Right Information at the Right Time
This article is the second in a series of three created for Iron Bridge Resources that will focus on ways your institution can improve student loan counseling.
In our first article we shared the data that shows that basic entrance and exit counseling is largely ineffective, with 40% of borrowers stating they don’t remember receiving the counseling at all. We also discussed the increased importance for a school’s bottom line and reputation to ensure that their students have the tools they need to successfully manage their student loan debt.
Providing the right information at the right time can be tricky as the right time can be different for every borrower. For many, it’s when the first bill shows up and they realize what their monthly payment will be. For others, it’s a few years down the line when a financial crisis or milestone occurs.
Please see the link below to access to the full article.